Global Edible Insects Market to Amass Notable Returns By 2026

May 21, 2020

According to the research report titled ‘Edible Insects Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global edible insects market is expected to register substantial growth through 2026.

Growing inclination towards protein rich diets and increasing health awareness are major factors driving the edible insects market growth. Insects have high protein content and excellent product efficiency as compared to other food groups. Commonly consumed insects are caterpillars, grasshoppers, beetles, locusts, ants and bees. Easy availability of edible insects in Zambia, Zimbabwe and Nigeria is further aiding the market expansion. Insects including mealworms, grasshoppers, termites and crickets are a rich source of phosphorous, manganese, calcium, magnesium, iron, copper and zinc.

As per product type, caterpillars segment is predicted to witness noticeable growth through 2026. Increasing preference towards products with high amino acids, minerals and vitamins is augmenting the demand for caterpillars. On the other hand, bees, ants and wasps segments are also poised to record a momentous growth rate during the forecast period, primarily due to evolving dietary trend of low calorie food products and increasing bee extraction activities to produce high protein honey.

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The others segment, which includes edible spiders, house fly and larva, accounted for 4% market share in 2019 and is anticipated to register continuous growth in the forthcoming years. Edible spiders are served as fried snacks in Cambodian restaurants and local markets.

The report cites that applications like insect protein gummies, liquid extracts and powders, combinedly held 11% market share in 2019 and is slated to expand significantly during the study period. Easy availability and widespread usage of edible insect powder coupled with increasing consumption of insect protein gummies among children are fueling the segmental growth.

Considering the geographical landscape, Middle East & Arica edible insects industry is set to generate appreciable returns in the forthcoming years. Factors such as increased pervasiveness of livestock diseases and growing usage of insect powder in snacks are favoring the market scenario in MEA.

Meanwhile, edible insects market in Latin America is anticipated to register a momentous growth rate through 2026, primarily due to rising consumption of larva, giant water bugs and ants as appetizers and snacks.

Ynsect, Entotech, Crickers, Cricket Flours, Nutribug Ltd., Crik Nutrition, Edible Inc., Green Kow, Crowbar Protein, Gathr Foods, Bitty Foods, Six Foods, Thailand Unique, Exo Protein, Chapul LLC, Proti-Farm, EnviroFlight, Kreca, Agriprotein Technologies and HaoCheng Mealworms Inc. are the major contenders in worldwide edible insects market.

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